Comments

bobcrane

spend spend spend....Obama.....vacations to Hawaii ALONE has cost $20 MILLION so far............$4M ea trip.......but he needs to close the WHITEHOUSE off to make him look like he is doin something good for the people....only makes him look like a fool........there is alot of FAT to cut.........someone better start cuttin SOON...............B4 we all go BROKE like GREECE......i think Obama wants us to fail......his road is a road to socialism......ugh

TiredOfTax

While President Barack Obama has spent weeks warning of the dark consequences of across-the-board budget cuts, there’s one area of government where his staff has failed to calculate their impact: the White House itself. Obama administration spokesman Jay Carney told reporters Thursday that “detailed decisions” have yet to be made about how the administration would meet a projected $24 million reduction to the executive office budget, which may include furloughs of presidential aides and other employees. “I’m not going say that this person is going have to be furloughed today, if that hasn’t happened yet and we don’t know when that will happen specifically,” he said. Under a law passed in 2011, $85 billion in automatic spending cuts, known as sequestration, began on March 1 for the remainder of this fiscal year, which ends Sept. 30.

drugsrus

swizzer- "not in the labor force" refers to those people who are still not working or are grossly underemployed and have used up all uneployment benefits. I fell into that group for 20 years. BUT the city deemed that I was self employed because my work with the pharmaceutical companies resulted in 1099s. I had to pay $35/yr. for a business license.

I have not been a part of the labor force since the early 1990s and here is a surprise for you swizzer - you are not part of it either.

rschweizer

TiredOfTax, what the h-ell is 'not in the labor force'? When did you start using this term? WHen was it simple enough for you to use simple 'number of people unemployed'?

You're just angry that the unemployment number for February, just published this morning, came in as having dropped. You hate to admit it, so now you're using some term that measures a different quality that you know has nothing to do with the number that matters.

MrBoB51

You have to remember that Economists 'practice' predicting an activity just as Doctors 'practice' medicine. Neither has it exactly right but I'd trust a doctors best guess over an economists' every time.

MrBoB51

Usedto, those same 'private economists' also add the caveat ...based on today's VALUE. The difference there is also trillons of $$. That's why I hate using straw-men in an argument, too many out there to draw from.

TiredOfTax

The number of Americans designated as "not in the labor force" in February was 89,304,000, a record high, up from 89,008,000 in January, according to the Department of Labor. This means that the number of Americans not in the labor force increased 296,000 between January and February.

MrBoB51

A lot of you are presenting facts that even though seem to conflict, are essentially correct. In the end, all transactions worldwide are based on 'fiat' money and operate within that sphere. To make sense of this, a look at the concept of rehypothication would help. Afterwords, you'll ask the question...'on paper,who really owns what'??? This is part of the reason many Countries are demanding a physical count of the gold they are supposed to own.

rschweizer

drugs, I'm only going to say this once more so your brain can hopefully process it.

The price of gold and other precious metals DROPS when consumer confidence GOES UP.

I know you're not one for facts; but I am. And here's the report from Reuters news:

"NEW YORK, Feb 28 (Reuters) - Gold fell more than 1 percent on Thursday, as gains in U.S. equities and economic optimism sapped safe-haven demand for the precious metal, which ended February with its fifth straight monthly drop, the longest string of monthly declines since 1996. Bullion fell sharply for a second day, after U.S. data showed the economy grew slightly in the fourth quarter while new claims for unemployment dropped last week. Signs of an improving U.S. economy have sent the Dow Jones industrials and the S&P 500 stock index within striking distance of record highs. "

Or is it that you hate to admit 'record highs' are what we're experiencing, if even for a moment?

TiredOfTax

rschweizer, it is becoming increasingly obvious that you have a fixation on me. I believe that you need another hobby to use up some of your spare time. I told you that I do not work for any newspaper and you insist that I do. As you are never wrong and you know me so well I want you to get all of the pay that the paper owes me for attracting all of these hits. Just hold out the check with your left leaning hand and I will whisk it from your fingers OK?

taxtired

MrBoB51

To continue then, fiat or paper currency has no intrinsic value. It's based on 'confidence'-in many areas...the economy, other countries involvement etc. Too much fiat money = inflation and we are getting there. Precious metals however, do have intrinsic value that is subject to change. We use the dollar now, but the intrinsic value in the future could be in, say, land or Natural gas, something other than paper. We've merely gotten used to tying gold and silver to (useless)fiat money.

rschweizer

Ok, ToT, it's become increasingly clear that you really are a LH employee who purposefully throws crap on this comment section in order to drive up page hits, which drives up the prices advertisers pay to place ads here, which drives up profits to the LH. Maybe or that gets you a bonus, who knows?

rschweizer

TiredOfTax, printing money is the job of the US Treasury, which is headed by the Secretary of Treasury, which prints a rate decided by the Federal Reserve Board, all of which operate independently of the President despite his nominating them per the Constitution you hate so much.

TiredOfTax

gville70, There will be no back flips as this was not a victory for anyone. Until the pen, checkbook, the ability to print money and the ability to borrow money is taken away from this president there will be spending. They have it all figured out how to fix the reports to show savings while spending at record pace. There have not yet been any cuts to save money and the cutting of the White House visitors tour did not save a thing as they are not paid, the guides that Obama can no longer afford to pay are all volunteers. It is a fun little game that they love to play, it is called politics!